World View & Market Commentary. Forest first; Trees second. Focused on Real & Knowable facts that filter through the "experts" fluff and media hyperbole. Where we've been, what the future may hold and developing a better way forward.

Saturday, May 16, 2009

"There's a little problem with the first 350 billion dollars. It left and no one knows where it went".

Bill Maher With Elizabeth Warren May 15, 2009 (10 minutes):

BTW, Usury didn't just "go away," it went away because Volcker raised rates following inflation caused by leaving the gold standard and then the central bankers couldn't profit, so THEY saw to it that usury laws went away. Washington State, for example, until 1980 had a 12% usury law - no one could charge a higher interest than that.